Great investment opportunity. Main floor strata retail unit beside the seawall. This 282 sq ft property is ready to occupy. It could be rented for: 1,400 base rent plus $300 Operating Costs [$220 Property Tax and $80 Strata Fee] for a total of $1,700 Gross Rent. This is equivalent to a Cap Rate of about 6%. Pre-paid 99 year Ground Lease till July 4, 2088. Next door neighbour [Unit# 102] with 299 SQFT was sold on February 2012 for $270,000.
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